[Coinbase CEO Admits SocialFi Features in Base App 'Did Not Perform Well'] According to The Block, Coinbase CEO Brian Armstrong stated in a podcast interview that the SocialFi features tested in the Base app last year 'did not perform well.' Armstrong described it as an experimental attempt that failed to meet expectations. Currently, the Base app has shifted its focus to trading functionalities, becoming a self-custody version of the Coinbase app. The Base app had previously heavily promoted creator coin features, which tokenized social media posts and creator accounts. However, Coinbase has since scaled back these features, pivoting to a 'finance-first experience.' While some well-known creator coins briefly gained attention, almost all of the launched tokens failed to maintain their value. Armstrong believes that SocialFi will eventually succeed, but tokenomics has yet to be fully resolved, and tokens need to demonstrate durability. The Base protocol itself is also undergoing significant changes, replacing the original OP Stack with custom components and considering the launch of a native token.